Tag Archives | Tobruk

NOC Chairman: Oil Production to reach 2.5m bpd by 2020

By Adam Nathan. Mustafa Sanalla, the colourful chairman of Libya’s National Oil Corporation (NOC), has revealed ambitious plans to increase Libya’s oil production to 2.5 million barrels of oil a day by 2020. Sanalla, also revealed plans to expand Libya’s refining capacity to 1 million barrels of oil a day and gas production to 1.3 […]

Greek Firm in $380m Libya Deal

Greek company METKA has announced that it has concluded an agreement with the General Authority for Electricity and Renewable Energy of Libya (GAEREL) to carry out the engineering, procurement and construction (EPC) contract for a new power plant in Tobruk, Libya.  The agreement was made in Athens on 25 January 2017. The project, with total […]

Eastern NOC Claims Oil Deals with Russia, China

By John Lee. The head the eastern-based National Oil Corporation (NOC) has claimed that his office has signed 29 contracts independently of the Tripoli-based organisation. Naji al-Maghrabi told Reuters that recent contracts included deals with major states such as Russia and China. Russia is reported to be planning to arm eastern-based strongman General Khalifa Haftar […]

Chaos and Confusion in Tripoli

By John Lee. Chaos and confusion are the order of the day in Tripoli, as claims of an attempted coup by forces loyal to the old Tripoli-based General National Congress (GNC) / National Salvation are dismissed as a “media hoax” by the UN-backed Government of National Accord (GNA). Reuters had reported that Khalifa Ghwell, head […]

China to Invest $36bn in Libyan Infrastructure

By John Lee. The Tobruk-basesd government is to embark on a massive programme of infrastructure works, include the country’s largest deepwater port, an airport, a railway running south along the Egyptian border to Sudan, 10,000 homes, a 300-bed hospital and a university. Prime Minister Abdullah Al-Thinni told Al-Hadath that the $36-billion project will be built […]

Interview: New LIA boss plans to fund Libyan Infrastructure

By Adam Nathan. The newly-appointed Chief Executive Officer (CEO) of the Libyan Investment Authority (LIA), the country’s sovereign wealth find, which holds $67 billion of assets, said he is seeking to work and co-invest with international investors including major oil companies to boost his country’s wealth. In his first interview with the media, Mr Ali Shamekh […]

Rival LIAs Unite to Challenge New Steering Cmte

By Padraig O’Hannelly. The two contenders to lead the Libyan Investment Authority (LIA) have challenged the appointment of steering committee to run the $67-billion sovereign wealth fund. AbdulMagid Breish, who has been chairing the LIA from Tripoli, and Fawzi Omran Farkash, the newly-appointed Chairman of the Tobruk-based LIA, met on Monday along with Farhat Ben […]

Tobruk Government Declares Martial Law

By John Lee. The speaker of Libya’s eastern parliament has declared martial law in areas under its control, according to media reports. Associated Press says the move is intended to empower its military to respond quickly to infiltration by militias loyal to the rival, U.N.-brokered government in the capital, Tripoli. Parliament Speaker Agila Saleh’s declaration […]